taxis

The island town is known for its vibrant town centre, long history and stunning waterside setting nestled between the two sides of a glistening freshwater lake

“It’s a heavenly place to live,” says Barry Flanagan as we bob along on the sparkling water.

Barry is a water taxi tour guide in Enskillen, where he spends his days enthusing about the town. He combines his unique talent for talking, honed during ten years on local radio, with boating skills learned on the waterways of his hometown.

“Enniskillen is Ireland’s only island town. It is completely surrounded by water. We’re so lucky we live here,” he adds in a borderlands brogue.

If you’re from the centre of Ireland, then you’ll have heard of the town of 14,000. Enniskillen is known for its vibrant town centre, long history and stunning waterside setting nestled between Upper and Lower Lough Erne in County Fermanagh.

Yet despite all these winning features, Enniskillen is little enough known that it was recently voted Ireland’s most underrated town.

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OPINION

Milo Boyd

And, as I discovered, underrated it certainly is.

The first place to start when discovering its delights is on the water. Lough Erne is the third largest freshwater lake in the UK and stretches across the south-western border. There is a brightness and cleanliness about the place. Flooded drumlin landscape stretches away from the loch past reedswamps, islets, and devilish-looking cormorants drying their wings in the sunshine.

With the water taxis chugging by, it’s easy to mistake its waterways for rural Netherlands or the Croatian delta of Vid. At least, in the brief moments when sleet showers are replaced by sunshine.

It’s also got a lot of history.

A short boat ride out of town takes you to Devenish Island. “There are 254 islands on Lough Erne, and Devenish Island is the jewel. It is a 6th-century monastic sight,” Barry explains.

Henry VIII’s dissolution of the monasteries cleared Devenish of its once bustling 1,000-person population, but the remains of the buildings have stayed, including a perfectly preserved tower.

Rising up on a nearby hill is the imposing Enneskillen Royal Grammar School, where Oscar Wilde and Samuel Beckett were pupils at a similar time as two truanting young lads who managed to blow up the nearby 1613 Portora Castle using explosive skills honed in the chemistry lab.

Made of sturdier stuff is the 600-year-old Enskillen Castle. Guarding one of the few passes into Ulster, it has remained strategically important since the charmingly named Hugh the Hospitable swung open its drawbridge.

The British took it over in the 17th century, turning it into a plantation stronghold for English and Scottish settler ‘undertakers’ tasked with controlling confiscated Gaelic land.

Despite such dicey moves, it remains remarkably intact today and serves as an enjoyable low-key museum.

“Fermanagh is a small county, but it packs a huge punch,” Barry enthuses as our tour comes to a close with a quick sail past Erne Water Taxi’s newest vessel, a completely solar-powered party boat.

“Would you believe in Fermanagh we have 14 plantation castles, three National Trust properties, a geopark that runs across the border, the Stairway to Heaven, and the Marble Arch Caves. It’s a heavenly place to live and we’re so lucky we live here.”

Any local who has spent an evening in Blakes of the Hollow will certainly agree. The Victorian pub is one of the most famous in Ireland and was packed to the rafters when I visited. The vibe inside is excellent and oiled by £5 pints of Guinness and live music on the weekends.

Wander several flights down from the pub, and you’ll get to 28 at the Hollow, an award-winning restaurant run by husband and wife team, Glen Wheeler and Zara McHugh. The food and service is as exceptional as I had expected, given no fewer than three people at my hotel had suggested I check it out.

The hotel in question is the Lough Erne Resort, a curious place that’s part 5* hotel, part timeshare estate made up of crenelated mansions that run along the lakefront. OAP bellboys greet you at the door as you walk into the grand foyer, where wood fires crackle in the grates. The rooms are enormous and comfortable, designed as they are for golfers to relax after a hard day’s thwacking on the 36-hole course.

Once you’re up and at them the next day, a coffee and a croissant at FOLK will fuel you up enough for a proper rummage at Lougherne Vintage.

Sitting in the quaint Butter Market part of town, the shop is packed full of goodies plundered by Katie Murphy and her husband from bootfairs across Europe. Unlike most vintage shop proprietors, Katie does not get her goods from eBay and Vintage, instead putting in the hard yards early on Sunday mornings. The result is a shop brimming with genuine treasures, including a Vivienne Westwood dress for a very reasonable price.

Like Enniskillen as a whole, drop by and you’re sure to unearth a hidden gem or two.

Book it

Rooms at Lough Erne Resort cost from £131.

Inneskillen is a two-hour bus ride from Belfast, costing £36.

SACRAMENTO — A corporate tax policy that costs California billions in lost tax revenue each year could be coming to an end as the state struggles to backfill federal cuts and resolve a looming budget deficit.

The proposed legislation, Assembly Bill 1790, would repeal the so-called “water’s edge” tax break, a filing option that allows multinational corporations to exclude the income of their foreign subsidiaries from state taxation.

“The tax bills of the wealthiest, most powerful corporations in the world are at all-time lows,” Assemblymember Damon Connolly (D-San Rafael), one of the primary sponsors of the bill, told The Times. “Meanwhile, we’re struggling to fund programs that feed children — I think everyone understands that now is the time for long-term budget solutions.”

Republican Sen. Roger Niello, vice chair of the Senate Budget and Fiscal Review Committee, said the bill to repeal water’s edge won’t receive support from GOP lawmakers. He said the legislation would lead to double taxation, meaning the same income would be taxed twice by different countries, and compared taxing corporations’ foreign profits to enacting tariffs.

“California already has the reputation of being not particularly business friendly,” said Niello (R-Fair Oaks). “This would really just compound that.”

A spokesperson for Gov. Gavin Newsom did not respond to a request for comment about the governor’s views on the proposal. Newsom, however, has largely shunned new tax increase proposals.

Legislation to increase taxes requires a two-thirds approval vote instead of a simple majority. Democrats in California hold a supermajority in both the Assembly and Senate, meaning the bill could still pass without Republican support, but it would require backing from the progressive and moderate wings of the party.

Kayla Kitson, a senior analyst at the California Budget and Policy Center, said the measure has a decent chance of winning support among moderate Democrats due to the state’s budgetary woes.

“The stakes are really high this year,” she said. “With any tax policy, it’s certainly hard to get folks beyond the progressive community on board, but there are a lot of discussions happening behind closed doors given the challenges that the state knows it’s going to have to deal with in the next few years.”

When filing taxes, a multinational corporation in the United States can currently choose between two methods. Worldwide reporting takes into account all of the corporation’s global profits or losses, while the water’s edge option allows the U.S.-based parent company to exclude the income of foreign subsidiaries. This can help corporations that own profitable foreign companies pay less taxes in the United States.

California is scrambling for solutions as the state is facing an estimated $18-billion budget deficit and fallout from federal cuts that slashed healthcare. A Republican-backed tax and spending bill signed last year by President Trump shifted federal funding away from safety net programs and toward tax cuts and immigration enforcement.

Carl Davis, a research director for the Institute on Taxation and Economic Policy, said the idea is picking up momentum nationwide, with states like Maryland, Minnesota and New Hampshire also considering a repeal in recent years, due to a growing awareness about profit shifting — a loophole in the water’s edge tax break that some corporations use to reduce their tax burdens by shifting profits made in a high-tax country into tax havens.

“Folks are outraged when they hear that these companies are pretending that they are earning their profits in the Caymans or in Switzerland and are skipping out on paying U.S. taxes as a result,” he said. “That feels insulting to a lot of people who are paying the taxes they owe every day.”

During an informational hearing at the Legislature last month, Rowan Isaaks, an economist with the nonpartisan Legislative Analyst’s Office, said the state does not know the extent to which corporations use profit shifting, which makes it impossible to determine exactly how much revenue California would gain by eliminating the water’s edge tax exemption. But he estimated it would bring in “single digit billions” for the state each year.

“While there would be revenue gains, the Legislature also faces a trade-off between broadening the tax base but also managing additional uncertainty,” said Isaaks, explaining it could increase budget volatility because foreign income is more sensitive to global economic conditions.

Issaks added that the Legislative Analyst’s Office has found no strong evidence that companies would flee California if the water’s edge tax break was repealed.

Jennifer Barton, director of the legislative services bureau for the California Franchise Tax Board, told legislators that mandating worldwide reporting wouldn’t be difficult for the state from an administrative standpoint, only requiring some additional outreach or educational efforts.

California Tax Foundation visiting fellow Jared Walczak said that the water’s edge option exists for a reason and that it would be unfair to mandate worldwide reporting. “The vast majority of the activity abroad is true economic activity abroad,” he told lawmakers. “Companies don’t just exist in the United States; they have sales, they have manufacturing, they do things abroad.”

A survey last year from the nonpartisan Pew Research Center found 63% of adult Americans believe large corporations or businesses should pay more in taxes, while 19% want corporate taxes to be lower and 17% believe corporate tax policy should remain the same.

Tech companies appear to be particularly aggressive with profit shifting. Six U.S. multinational corporations — Apple, Cisco, EBay, Facebook, Google and Microsoft — may have underpaid their U.S. corporate income taxes by $277 billion over varying periods from 2009 through 2022, according to a report from the Center on Budget and Policy Priorities.

Repealing the water’s edge tax break isn’t the only tax-related proposal being considered as the state seeks to increase revenue. The Billionaire Tax Act is a controversial proposed state ballot initiative that would levy a one-time, 5% tax on the state’s billionaires to help offset federal cuts. Newsom is among its critics.

Davis believes it will continue to be a hot topic regardless of the bill’s outcome this year.

“There is very good reason to think this [repeal] is going to happen at some point,” he said. “This is a debate that is certainly not going away.”